Several years ago, the Paradise Surf Shop was the only surf-gear store catering to women. It carried everything the serious female surfer needed to ride the waves. In terms of its merchandise assortment, it had a ________ assortment
A) shallow and deep
B) narrow and deep
C) shallow and broad
D) broad and deep
E) shallow and narrow
B
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If a company uses the indirect method to report cash flows, it
A) subtracts any increase in its accrued pension cost from net income. B) subtracts any increase in accrued pension cost as an investing activity. C) adds any increase in its accrued pension cost to net income. D) adds any increase in accrued pension cost as a financing activity.
Which of the following documents expressed the opinion that a choice among accounting valuation systems could not be made because of the diversity of users?
a. “Objectives of Financial Statements” (Trueblood Committee Report) b. “Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises” (APB Statement 4) c. “A Statement of Basic Accounting Theory” (ASOBAT) d. “Statement of Accounting Theory and Theory Acceptance” (SATTA)
Which of the following statements is CORRECT? Assume that the project being considered has normal cash flows, with one outflow followed by a series of inflows.
A. The lower the cost of capital used to calculate a project's NPV, the lower the calculated NPV will be. B. If a project's NPV is less than zero, then its IRR must be less than the cost of capital. C. If a project's NPV is greater than zero, then its IRR must be less than zero. D. The NPV of a relatively low-risk project should be found using a relatively high cost of capital. E. A project's NPV is found by compounding the cash inflows at the IRR to find the terminal value (TV), then discounting the TV at the cost of capital.
The International Monetary Fund (IMF) lends money to:
a. underdeveloped and developing countries b. members of the European Union c. all NAFTA members d. countries that need short-term loans to conduct international trade e. China, Japan, and Vietnam